Ted Baker has signed a product license agreement with Next to accelerate the expansion of children’s wear collection. Under the agreement, which will run for an initial five-year period, Next will create and sell Ted Baker children’s wear products spanning baby, boys’, and girls’ clothing and accessories in collaboration with the creative team at Ted Baker.
The new collections will launch in spring 2020 and will be sold through Next’s retail channels and wholesale relationships as well as through Ted Baker’s websites. The company’s current children’s wear product relationship with Debenhams will end on February 29, 2020. The company retains an established and mutually profitable relationship with Debenhams which remains a license partner for lingerie and nightwear, according to Ted Baker. Ted Baker does not anticipate a material financial impact from this agreement in the current financial year nor in the 2020/21 financial year. “We are delighted to announce this exciting product license with Next to support the continued expansion of Ted Baker’s growing children’s wear collections. Product licensing is a proven and highly successful pillar of Ted Baker’s strategy to expand as a global lifestyle brand. Our children’s wear collections – which are small in size but big in style – have already proven incredibly popular with Ted Baker customers. As a multi-channel retailer with global capabilities and wholesale experience, Next is the outstanding partner to take Ted Baker forward in this category, which we believe will deliver significant growth in the coming years,” Lindsay Page, chief executive officer of Ted Baker, said. “We are thrilled to have the opportunity to help build and develop the Ted Baker children’s business across the globe. We have worked with Ted Baker for a number of years through Label and recognize the power of their brand,” Simon Wolfson, chief executive officer of Next, said.
